2005
KPMG International today published its 2005 Annual Review, which includes final composite revenue and growth figures achieved by KPMG member firms. In 2005, composite revenues rose to U.S$15.69 billion, an increase of 16.7 percent on the previous year. When measured in local currency terms, the growth rate was 13.1 percent. KPMG member firms' total composite revenues for fiscal year 2005 (October 1, 2004 - September 30, 2005) represents an increase of U.S.$2.25 billion over the prior year.
KPMG Switzerland achieved one of the best results in recent years over the last financial year to 30 September 2005. Income from all services rose by 12.9 percent to CHF 367 million. The numerous audit mandates won the previous year, the strong expansion of tax consulting and a lively transaction market all made significant contributions to this success.
The global merger and acquisition (M&A) market is currently outstripping last year's improved activity levels by 19 percent - the value and volume of completed activity rising in equal measure according to an analysis by KPMG Corporate Finance, based on data supplied by Dealogic.
A significant challenge for the members of Audit Committees (AC) is the complexity of the issues involved. According to a survey conducted by KPMG, 72 percent of respondents spend less than 20 hours a year on further training and 63 percent primarily learn "on the job" by sharing experiences with others.
Almost 70 percent of small and medium-sized companies in Switzerland recognize the potential to optimize corporate financing, but only 8 percent actively take advantage of the competition between banks. Corporate financing is always an issue of great interest. In addition to structures, the discussion also focuses on negotiated terms and costs of financing.
KPMG, the global network of professional service firms providing Audit, Tax and Advisory services, today announced member firm combined revenues of $15.65 billion for 2005.
KPMG is a leading provider of audit, tax and advisory services; DELEC is the largest Swiss supplier of ABACUS software; in4U is an internationally active IT company which operates IT platforms for small and medium-sized clients in Switzerland.
At the recent meeting of the KPMG International Board and Council, Mike Rake was unanimously re-elected as Chairman of KPMG International, the global network of professional service firms.
Effective October 1, 2005, Alexander Gut (42) will assume responsibility for the Audit Financial Services division of KPMG Switzerland on the Executive Board.
The partnership of KPMG Switzerland elected Bryan DeBlanc (46) to the Board of Directors of KPMG Holding AG, effective as of October 1, 2005.
Is the primary objective of IT today to reduce costs and risks while increasing quality and efficiency at the same time? What are the goals of IT and where do we stand in terms of costs and efficiency? These are the questions that KPMG pursued in the study "IT-Management 2005: Analysis of the situation and trends in information technology in Switzerland".
KPMG und der Liquidator der in Nachlassliquidation befindlichen SAirGroup haben das beim Handelsgericht des Kantons Zürich geführte Verfahren um die Anfechtung von im September 2001 erfolgten Honorarzahlungen der SAirGroup an KPMG London durch Vergleich erledigt.
Estimates from the Federal Police Bureau assume a damages figure of 2 - 4 percent of the gross domestic product, lost by the Swiss economy as a result of criminal activities. This corresponds to more than CHF 8 billion.
Research released by KPMG points to an acceleration in M&A activity in the global private banking and wealth management industries, with global M&A levels in this sector increasing 26 percent in 2004 from the previous year. (Survey)
As a way of achieving out-performance, the recent unprecedented surge in the demand for hedge funds will ease as the industry commoditises, according to a new study published by CREATE, the UK think tank, and KPMG International.
The global M&A activity is currently level with the first half of 2004 and set to overtake it by the month-end.
KPMG welcomes John Ederer as Deputy Head of Forensic at KPMG Switzerland, effective June 1.
A number of major crises and collapses in the business world demonstrated that internal corporate control is a problem that needs to be urgently addressed.
The study 'Internal Control Practices in Switzerland" is available in German and French free of charge at kpmgpublications@kpmg.ch , or it can be downloaded from our Virtual Library.
Following a selection process of several months, the position of the newly established KPMG Chair for Audit and Accounting at the University of St.Gallen has been filled by Prof. Peter Leibfried (34), a distinguished and experienced university lecturer.
KPMG welcomes Stefan Pfister as new Partner and Manager of Real Estate Advisory Services in Switzerland.
Shifting production activities abroad has long been reality for Swiss and other Western European manufacturers, and the trend is not expected to change. In fact, Switzerland, for example, appears to experience a second relocation wave, which is primarily driven by smaller and medium-sized companies.
The partnership of KPMG Switzerland elected Philipp Hallauer (40) Chairman of the Board of Directors of KPMG Holding AG. Philipp Hallauer is a Swiss Certified Accountant and holds a degree from the University of St. Gallen (lic.oec. HSG). He joined KPMG in 1990 and has been a partner of KPMG Switzerland since 1998. Mr. Hallauer is replacing Dr. Rudolf Roth who resigned from the partnership and from the Board in the course of the management buyout of KPMG Private.
Effective April 1, 2005, KPMG Switzerland will spin off KPMG Private in the form of a management buyout (MBO) to ensure that the divested company, which will operate under the new name Kendris private AG, is able to freely develop the services portfolio for international private clients. As part of an audit firm, KPMG Private was subject to certain restrictions.
The findings of the Retail-Banking-Survey indicate that this 'higher touch' service expectation is likely to remain a key area of focus as the banks, by their own assessment, believe they are significantly under-delivering on the quality of personal service.
KPMG Switzerland has been accredited by the Swiss Federal Government (METAS-SAS) to grant certification for the new 'British Standard (BS) 15000-1 IT Service Management'. The integrated approach of this standard promotes high-quality IT services.
While KPMG suffered a 5.5 percent decline in sales in Switzerland within the past fiscal year ended on September 30, 2004, it was able to win important new clients during the same period of time, considerably extending its market share in Auditing. Tax advisory increased by a gratifying 13.9 percent.
KPMG Switzerland is pleased to announce that Prof. Franz Hasenböhler has taken a position as a legal adviser at KPMG Legal effective as of January 1, 2005.